Bond yields traded flat on Tuesday after the Ministry of Commerce and Industry in its latest data has stated that India's trade deficit rose 87.5 per cent to $192.41 billion in 2021-22 as against $102.63 billion in the previous year. The trade deficit in March 2022 was $18.69 billion.
In the global market, the benchmark U.S. 10-year Treasury yield ticked up on Monday and the 2-year/10-year yield curve remained inverted, as a lack of major economic news left traders without many clues to act on. Furthermore, oil futures rose as the potential for more sanctions following alleged war crimes by Russian troops in Ukraine added to concerns about supply disruptions, while Iran nuclear talks stalled.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.89% on Monday.
The benchmark five-year interest rates were trading flat with its previous close of 6.16% on Monday.